On Jan 6, 6:30*pm, "David Eduardo" wrote:
"dxAce" wrote in message

...



Uh-huh. And whose name is it in? Certainly not yours. Just like those
radio
stations in SA.

As with most people, it is in the name of a living trust.

Like everything you've done your entire life...
...in someone else's name!

Obviously you do not know anything about issues of liability and avoiding
probate.

For investments, a sensible person would at least maintain investments in a
brokerage account where the shares are in a street name so they can be
traded instantly. Such an account would be under a living trust to avoid
probate and for certain tax advantages.

A business should always be in some form of a corporation to protect the
owner(s) from liability issues. The assets of the corporation would be held
under a corporate name, but the assets of the individual owners or investors
are protected from the debts or liabilities of the business activity.

Yes, but this doesn't imply that those with brokerage accounts
necessarily tell the truth 100% of the time. Even if you're only
trying to throw up a smoke screen here, you'll have to be more subtle
than this.

"Steve" wrote in message
...


Yes, but this doesn't imply that those with brokerage accounts
necessarily tell the truth 100% of the time. Even if you're only
trying to throw up a smoke screen here, you'll have to be more subtle
than this.

Investment accounts are subject to 1099 reporting. Any brokerage account
1099 will show distribution of dividends, long and short term capital gains
and any other taxable transaction, with the data being transmitted to the
IRS electronically. I even have an account that I closed but which ended up
with about $30 left sine some kind of dividend was in processing when I
closed the account and I get an annual 1099 for a couple of cents of
dividends and occasional capital gains of a dollar or two. I have to put
that on my tax return, too.

I can't see how anyone could hide income or capital gains from a brokerage
account since the IRS gets all the data automatically on every such account.
The IRS computers can instantly note a mis-match of income reported at the
source and income declared on a return. Heck, even the interest on checking
and savings accounts gets reported to the IRS.

On Jan 7, 11:42*am, "David Eduardo" wrote:
"Steve" wrote in message

...

Yes, but this doesn't imply that those with brokerage accounts
necessarily tell the truth 100% of the time. Even if you're only
trying to throw up a smoke screen here, you'll have to be more subtle
than this.

Investment accounts are subject to 1099 reporting. Any brokerage account
1099 will show distribution of dividends, long and short term capital gains
and any other taxable transaction, with the data being transmitted to the
IRS electronically. I even have an account that I closed but which ended up
with about $30 left sine some kind of dividend was in processing when I
closed the account and I get an annual 1099 for a couple of cents of
dividends and occasional capital gains of a dollar or two. I have to put
that on my tax return, too.

I can't see how anyone could hide income or capital gains from a brokerage
account since the IRS gets all the data automatically on every such account.

Steve wrote:

On Jan 7, 11:42 am, "David Eduardo" wrote:
"Steve" wrote in message

...

Yes, but this doesn't imply that those with brokerage accounts
necessarily tell the truth 100% of the time. Even if you're only
trying to throw up a smoke screen here, you'll have to be more subtle
than this.

Investment accounts are subject to 1099 reporting. Any brokerage account
1099 will show distribution of dividends, long and short term capital gains
and any other taxable transaction, with the data being transmitted to the
IRS electronically. I even have an account that I closed but which ended up
with about $30 left sine some kind of dividend was in processing when I
closed the account and I get an annual 1099 for a couple of cents of
dividends and occasional capital gains of a dollar or two. I have to put
that on my tax return, too.

I can't see how anyone could hide income or capital gains from a brokerage
account since the IRS gets all the data automatically on every such account.
The IRS computers can instantly note a mis-match of income reported at the
source and income declared on a return. Heck, even the interest on checking
and savings accounts gets reported to the IRS.

I don't see how your remarks above are relevant. You aren't trying to
hide anything from the IRS, so far as I know. You're simply lying to
the readers of this group about how much money you have.

Have you ever thought about taking up a hobby, like stamp collecting?

If he did, he'd probably lie about having or having had at least a dozen of the
'inverted jenny' airmail stamps.

All in someone else's name of course.

"dxAce" wrote in message
...


All in someone else's name of course.



A trust or a corporation do not constitute having something in "someone
else's name."

A living trust simply presestablishes the future ownership of one's assets
upon death, with the objective being the avoidance of probate and the
resultant delays and costs.

A corporation is not a person. It is a legal entity for an enterprise that
shields the owners or shareholders from personal liability. There are
corporations that are 100% owned by one individual, where all shares are in
one name... and the shares are nominative.

David Eduardo wrote:

"dxAce" wrote in message
...


All in someone else's name of course.



A trust or a corporation do not constitute having something in "someone
else's name."

A living trust simply presestablishes the future ownership of one's assets
upon death, with the objective being the avoidance of probate and the
resultant delays and costs.

A corporation is not a person. It is a legal entity for an enterprise that
shields the owners or shareholders from personal liability. There are
corporations that are 100% owned by one individual, where all shares are in
one name... and the shares are nominative.

And yet another moment to LMFAO!

"dxAce" wrote in message
...


David Eduardo wrote:

"dxAce" wrote in message
...


All in someone else's name of course.



A trust or a corporation do not constitute having something in "someone
else's name."

A living trust simply presestablishes the future ownership of one's
assets
upon death, with the objective being the avoidance of probate and the
resultant delays and costs.

A corporation is not a person. It is a legal entity for an enterprise
that
shields the owners or shareholders from personal liability. There are
corporations that are 100% owned by one individual, where all shares are
in
one name... and the shares are nominative.

And yet another moment to LMFAO!


In other words, you disagree with the need for living trusts and shielding
personal assets through incorporation?

"Steve" wrote in message
...
On Jan 7, 11:42 am, "David Eduardo" wrote:
"Steve" wrote in message

...

Yes, but this doesn't imply that those with brokerage accounts
necessarily tell the truth 100% of the time. Even if you're only
trying to throw up a smoke screen here, you'll have to be more subtle
than this.

Investment accounts are subject to 1099 reporting. Any brokerage account
1099 will show distribution of dividends, long and short term capital
gains
and any other taxable transaction, with the data being transmitted to the
IRS electronically. I even have an account that I closed but which ended
up
with about $30 left sine some kind of dividend was in processing when I
closed the account and I get an annual 1099 for a couple of cents of
dividends and occasional capital gains of a dollar or two. I have to put
that on my tax return, too.

I can't see how anyone could hide income or capital gains from a brokerage
account since the IRS gets all the data automatically on every such
account.
The IRS computers can instantly note a mis-match of income reported at the
source and income declared on a return. Heck, even the interest on
checking
and savings accounts gets reported to the IRS.

I don't see how your remarks above are relevant. You aren't trying to
hide anything from the IRS, so far as I know. You're simply lying to
the readers of this group about how much money you have.

You don't have to have much money to find advantages in a living trust. Even
if a family's only wealth is in home equity, it is appropriate.

Have you ever thought about taking up a hobby, like stamp collecting?

My hobby and profession are the same, radio.

David Eduardo wrote:

"Steve" wrote in message
...
On Jan 7, 11:42 am, "David Eduardo" wrote:
"Steve" wrote in message

...

Yes, but this doesn't imply that those with brokerage accounts
necessarily tell the truth 100% of the time. Even if you're only
trying to throw up a smoke screen here, you'll have to be more subtle
than this.

Investment accounts are subject to 1099 reporting. Any brokerage account
1099 will show distribution of dividends, long and short term capital
gains
and any other taxable transaction, with the data being transmitted to the
IRS electronically. I even have an account that I closed but which ended
up
with about $30 left sine some kind of dividend was in processing when I
closed the account and I get an annual 1099 for a couple of cents of
dividends and occasional capital gains of a dollar or two. I have to put
that on my tax return, too.

I can't see how anyone could hide income or capital gains from a brokerage
account since the IRS gets all the data automatically on every such
account.
The IRS computers can instantly note a mis-match of income reported at the
source and income declared on a return. Heck, even the interest on
checking
and savings accounts gets reported to the IRS.

I don't see how your remarks above are relevant. You aren't trying to
hide anything from the IRS, so far as I know. You're simply lying to
the readers of this group about how much money you have.

You don't have to have much money to find advantages in a living trust. Even
if a family's only wealth is in home equity, it is appropriate.

Have you ever thought about taking up a hobby, like stamp collecting?

My hobby and profession are the same, radio.

I just gotta take a moment here to LMFAO!

On Jan 7, 2:37*pm, "David Eduardo" wrote:
"Steve" wrote in message

...
On Jan 7, 11:42 am, "David Eduardo" wrote:





"Steve" wrote in message

...

Yes, but this doesn't imply that those with brokerage accounts
necessarily tell the truth 100% of the time. Even if you're only
trying to throw up a smoke screen here, you'll have to be more subtle
than this.

Investment accounts are subject to 1099 reporting. Any brokerage account
1099 will show distribution of dividends, long and short term capital
gains
and any other taxable transaction, with the data being transmitted to the
IRS electronically. I even have an account that I closed but which ended
up
with about $30 left sine some kind of dividend was in processing when I
closed the account and I get an annual 1099 for a couple of cents of
dividends and occasional capital gains of a dollar or two. I have to put
that on my tax return, too.

I can't see how anyone could hide income or capital gains from a brokerage
account since the IRS gets all the data automatically on every such
account.
The IRS computers can instantly note a mis-match of income reported at the
source and income declared on a return. Heck, even the interest on
checking
and savings accounts gets reported to the IRS.

I don't see how your remarks above are relevant. You aren't trying to
hide anything from the IRS, so far as I know. You're simply lying to
the readers of this group about how much money you have.

You don't have to have much money to find advantages in a living trust. Even
if a family's only wealth is in home equity, it is appropriate.

Have you ever thought about taking up a hobby, like stamp collecting?

My hobby and profession are the same, radio.- Hide quoted text -

- Show quoted text -

You mean business, don't you? You appear to be a businessman who has
nothing but disdain for radio.